DENVER, June 11, 2020 (GLOBE NEWSWIRE) -- TrackX Holdings Inc. (TSX.V:TKX | TKXHF:OTC | FRANKFURT:3TH) (“TrackX” or the “Company”), a Software-as-a-Service (SaaS) based enterprise asset management and supply chain execution solutions provider, today announced that it has entered into an initial three year agreement to provide its supply chain and inventory management solutions to Shifflet Bros. Enterprises (“Shifflet”), a freight hauling provider servicing the electric utility industry. Under this agreement TrackX will leverage its IoT-enabled, SaaS based platform to automate Shifflet’s management and delivery of utility poles to utility operator job sites and service centers. The initial deployment will utilize TrackX’s Global Asset Management for Enterprises (GAME) platform to automate many previously manual processes such as shipment receipt, inventory management, put away, order picking, routing and delivery that will drive efficiency throughout the Shifflet operation.
Shifflet Bros. is a contract trucking firm servicing electric utility companies. Within the electric utility industry, providers are dealing with increased regulations and supply chain complexity. For this opportunity, in partnership with Omni-ID, the number one industrial RFID tag provider in the world, TrackX will deploy its GAME solution platform with RFID to capture accurate, real-time inventory and supply chain information. The initial implementation will encompass 18,000 uniquely identified and high value inventory items sourced from 4 suppliers and stored at a 70-acre facility. Order delivery, performed daily by 19 trucks, will be managed across hundreds of the electric utility operator’s job sites, service centers and lay down yards. The result will be a single system of record driving the automated, active management of critical inventory levels and supply chain activity for Shifflet and their utility customers.
“TrackX is proud to announce this relationship with Shifflet Bros., a leader in addressing the transportation needs of the electric utility market, a heavily regulated industry where supply chain collaboration and enterprise analytics are critical,” says Tim Harvie, CEO of TrackX. “Now, more than ever, companies are facing increased pressure to improve supply chain visibility and efficiency. The TrackX IoT-enabled solution platform and extensive supply chain experience will help Shifflet automate many of their inventory management and supply chain processes, further differentiating them within the utility industry and enhancing service to their customers.”
“Our customers operate essential services and infrastructure, so they rely on us to have accurate and timely data on inventory levels and delivery to service centers and job sites,” says Gabe Anders, president of Shifflet Bros. Enterprises. “For our customers, leveraging TrackX’s supply chain and inventory management solutions will take our services to the next level. TrackX brings a comprehensive SaaS-based supply chain solution and the industry experience to make this a game changer for our operations.”
About TrackX
TrackX, Inc. (TSX.V: TKX), based in Denver, Colorado, is an enterprise asset management company deploying SaaS-based solutions leveraging multiple auto-ID and sensor technologies for the comprehensive tracking and management of physical assets. TrackX's GAME (Global Asset Management for Enterprises) platform enables the Industrial Internet of Things by providing unique item level tracking, workflow processing, event management, alerting and powerful analytics to deliver solutions across a growing number of industries. TrackX delivers significant value to a growing list of Fortune 500 companies and for customers in industries such as transportation, beverage, brewery, hi-tech, hospitality, mining, agriculture, horticulture, manufacturing, and government.
About Shifflet Bros. Enterprises
Shifflet Bros. Enterprises, Inc. (SBE) is an industrial third-party logistics provider based in Oroville, CA serving the electric utility industry. SBE was founded in 1993 by Twila Anders and is a woman owned minority business. The Anders family has been in the trucking business since 1965. The foundation of the company is built on a strong family atmosphere, loyalty, honesty, and reliability. Specializing in Utility Poles (Wood and Steel), Over-Length Freight, Special Job Site Loading / Unloading Capability (Olympic Self Loaders), Utility Poles up to 110', Machinery and General Flatbed Freight.
For more information, please contact:
Gene McConnell, TrackX Holdings Inc.
investor@trackx.com
303-325-7300
Shifflet Brothers Enterprises, LLC
800-344-4997
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur including the Company’s anticipated pipeline and value of current and customer deployments and future opportunities are the managements best estimates and cannot be guaranteed or relied upon and is forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements in this news release, whether as a result of new information, future events or otherwise, except as required by law.